State College: First Time Home Buyer Program

For first-time home buyers in State College, the First-Time House Buyer (FTHB) program offers mortgage and closing-cost help to both moderate and low-income families, resulting in a home that is the same or less expensive than your current rent.

Qualifying homebuyers are given free education and budget advice to help them throughout the home-buying experience.

The State College Community Land Trust (CLT) and the Temporary Housing Foundation, Inc. (HTI) are two other non-profit organizations providing State College home-buying options.

The SCCLT promotes house ownership by "splitting" the cost of a home into two or more payments.

How much is the grant?

Downpayment and Closing-Cost Assistance - The Centre County Housing Trust Fund will be utilized to help the home buyer with the down payment and closing expenses. A maximum of $10,000 will be provided, or 10% of the purchase price (whichever is less).

Note: The loan will become due when the house is resold, refinanced for more than the original purchase price, ceases to be Borrower's full-time, permanent residence, or the mortgage is paid in full.  Brochure

Recommended Reading
Annual Percentage Rate Vs Interest Rate for a Mortgage
Beware: Credit Scores May Drop After Debt Payoff 

Buyer Closing Cost Calculator PA

If you found this information useful, please tell a friend.